Turbotodd

Ruminations on tech, the digital media, and some golf thrown in for good measure.

Don’t Look at the Dow

leave a comment »

Hey, it’s the Friday afternoon before Super Bowl LII (that’s 52 in Roman numerals to you), don’t look at your Dow Jones ticker or your Bloomberg Terminal. Really, it will just ruin your weekend.

This was the worst week of trading since February 2016, with the Dow having plunged 650+ points for the week.

Ready for some uplifting and silly Super Bowl ads yet?

Why the sudden drop?

Earlier in the day, all looked rosy. The jobs report was pretty good, and even showed that average hourly earnings rose 2.9 percent YOY, some of the fastest growth seen in years.

But the interest rates have started an upturn, and the yield on the 10-year Treasury note rose to more than 2.8 percent, the highest level it has witnessed in four years.

You sure you’re not ready for some Super Bowl ads?

The markets be simply be responding to the idea that the era of “easy money” is finally coming to an end.

Now, I’ll quote from one of my favorite, classic Budweiser ads.

“Wazzzzzuppppppppp!!!????”

Today, not the stock market!

Written by turbotodd

February 2, 2018 at 2:54 pm

Posted in wall street

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: